Workers are super anxious right now
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Workers are anxious: The share of those talking about uncertainty on the workplace review site Glassdoor is up 80% from last year, per a new report from the company.
Why it matters: The unemployment rate has remained fairly low, but the labor market slowdown and rising concerns over a recession are shaking Americans' feelings of job security.
Zoom in: Glassdoor's employee confidence index, which measures how positive workers are feeling about their employer's business outlook, ticked down to 45% in April and is hovering at a record low.
- Other surveys are finding similar results, with average unemployment expectations in March were at the highest level since April 2020, per the New York Fed's survey of consumer expectations.
By the numbers: Confidence has cratered in government jobs, where just 35% of workers have a positive outlook, compared with 44% this time last year, per the Glassdoor report.
- Folks in industries connected to the federal government are also worried. Confidence in the aerospace and defense sector declined to 48% in April compared with 55% last year.
Zoom out: Another reason for anxiety could stem from the Boss Crackdown underway at so many firms, where management appears to be taking back its upper hand.
- Even the dreaded "stack ranking" performance review style — where workers are graded and the lowest performers are fired — has made a comeback at companies this year.
💭 Emily's thought bubble: Not the greatest way to boost morale.
Reality check: Uncertainty and lack of confidence are measures of vibes.
- For many workers (at least outside the federal government) their reality is, for the moment, okay enough.
The bottom line: These days, the only certainty appears to be uncertainty.
